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House Journal: Page 1669: Tuesday, April 16, 1996

Page  21

 1   infrastructure assistance projects under this section.
 2     (2)  To provide financial assistance for qualifying
 3   projects.
 4     (3)  To provide funding for any other purpose
 5   consistent with this section and deemed appropriate by
 6   the department.
 7     c.  Section 8.33 shall not apply to the physical
 8   infrastructure assistance fund.  Notwithstanding
 9   section 12C.7, interest earned on moneys in the fund
10   shall be credited to the fund.
11     3.  The department shall establish procedures and
12   guidelines for the physical infrastructure assistance
13   program and shall proceed in accordance with the
14   following:
15     a.  Consult with and coordinate with the state
16   department of transportation, the department of
17   natural resources, and any other appropriate state
18   agency which is responsible for the development or
19   redevelopment of physical infrastructure in this state
20   to ensure that activities conducted pursuant to this
21   section are consistent with the policies and plans of
22   other state agencies and are coordinated with other
23   physical infrastructure projects.
24     b.  Provide financial assistance in the form of a
25   loan, forgivable loan, loan guarantee, cost-share,
26   indemnification of costs, or any combination of
27   financial assistance deemed by the department to be
28   most efficient in facilitating the physical
29   infrastructure project.
30     c.  Enter into contracts and to sue and be sued.
31   However, the department shall not in any manner
32   directly or indirectly pledge the credit of the state
33   of Iowa.
34     d.  Authorize payment of costs, commissions,
35   attorney fees, consultant fees, and other reasonable
36   expenses from the fund.  Expenses may include costs
37   relating to carrying out the duties necessary for
38   insuring or guaranteeing loans, co-sharing or
39   indemnifying costs under the physical infrastructure
40   financial assistance program, and for the recovery of
41   loans insured or guaranteed, costs co-shared or
42   indemnified, or the management of property acquired in
43   connection with such loans or costs.
44     e.  Adopt administrative rules necessary to carry
45   out the provisions of this section.
46     4.  The Iowa economic emergency fund created under
47   section 8.55 shall be used for indemnification of
48   liabilities under this section in an amount not to
49   exceed a total of ten million dollars.
50     Sec. ___.  NEW SECTION.  455B.433  PHYSICAL

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

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Last update: Wed Apr 17 13:30:02 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01600/01669.html
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